Cryptocurrency forecast of bitcoin price for the week of July 25 – 31, 2022
25.07.2022 | auglovoi
Last week was quite positive for cryptocurrencies. Bitcoin overcame the psychological limit of resistance at $ 21,800, after which it showed a rapid growth above $ 24,000, however, with a rapid correction. Do not expect such swings this week.
If we talk about the fundamental reasons, then everything is quite prosaic here and no significant events are expected. Investors are already quite used to political upheavals, and new decisions of various governments are already mostly embedded in the prices of financial assets not only in the cryptocurrency market, but also on stock and classic currency exchanges.
But technical indicators paint the following picture. If we take into account that the rise last week took place at fairly low volumes, then we should not expect a significant rebound, but at the same time a number of indicators show the formation of an uptrend, although of rather low strength and in a fairly long term. Thus, for the week of July 25 – 31, 2022, the bitcoin forecast suggests the formation of a stable sideways trend of about $ 21,800, with a possible slight increase.
These articles are not instructions for investment, they do not give any guarantees and are provided for informational purposes only.